Guest Post: 7 Reasons Landlords Should Select The Right Tenants
There are a vast number of strange people in this world. Despite our best efforts to understand the litany of weirdness that surrounds them, we are often left baffled by their mysterious ways. If you’re a Landlord looking to let a property, then the last thing you want is The Crazy Guy living under your roof.
Unfortunately, the ‘good tenant’ is a rare and elusive creature, who is greatly outnumbered by the ‘odd-squad’. Thankfully for you, we have listed the seven reasons for landlords to select the right tenant, and more importantly, just how to spot them.
1. Hello, Is It Me You’re Looking For? As Lionel Ritchie once famously sang “hello, is it me you’re looking for?” The short answer is no! One of the best things you can do is meet with the potential tenant in advance. Nine times out of ten you will know if something is amiss. Tell-tale signs are any of the following:
- The everlasting handshake: If your arm is still being violently thrusted up and down after 10 minutes, then loosen your grip and head cautiously to the nearest exit.
- Soap dodgers: Tenants should treat this as they would a job interview. If they turn up in filthy clothes and covered in muck, then this is a clear insight in to their own living habits.
- Everyone needs good neighbours: One of the quickest ways to get evicted is getting complaints from your neighbours. Ask your tenant what their likes and hobbies are. Playing an acoustic guitar at 5pm may be soothing. Belting out heavy metal from your electric guitar at 3am is something quite different.
2. Show Me The Money. You want a tenant that will be financially responsible. This means someone that will pay their rent on time. Ask to see copies of their recent pay slips and even speak with their employer. Avoid anyone that asks to pay in small change or colourful buttons!
3. Run A Credit Check. Even if their wallet is bursting at the seams, they could still be in more debt than Greece. Find a professional company to run a credit check, they will be able to tell you if they have a history of paying bills on time. It will also check their monthly income and if they have any outstanding debt.
4. Welcome To The Zoo. Whether you hug puppies, or feed mice to hungry anacondas, liking ‘pets’ and having them reside in your home are two different things. Be clear what your rules are if allowing pets. One hyperactive dog can leave you with thousands of pounds worth of damage to your property.
5. Brush Up On Your History. The best person to ask about their living habits will be their previous landlord. Ask to speak with them to find out if you are inheriting a problem tenant. Be careful though as they may be some what forthcoming with the truth in an attempt to off load them on you. Remember, if it’s too good to be true, then it probably is.
6. Lifestyles. Do they move or switch jobs often? If the answer is yes then they are unlikely to be a long term tenant. If their last long-term employment was their school paper round, then they may struggle to regularly pay the rent.
7. Two To A Room. Be extremely clear as to how many occupants you allow per room. Even Noah made the animals enter ‘two by two’. You don’t want to find your cosy one bedroom flat has twenty people living inside. Clearly state in your contract how many people are legally allowed to live in your property.
By following these simple rules you can rest easy that your tenants are living in tranquillity, while the nutty and quirky are left safely locked outside.
Author Bio: Andrew Potter writes for My Online Estate Agent where you find useful guides such as how to advertise on Rightmove and other useful property tips.